Property growth during July offers capital gain potential
The latest release from RP Data highlights the degree of property value growth seen across Darwin during July, which could be great news for owners of investment property in Moil and the surrounding suburbs.
In fact, over the last month, Darwin has seen property values increase by 2.8 per cent to a median price of $515,000. This is great growth in capital for owners of property portfolios in the region.
RP Data research director Tim Lawless said that this growth in capital gains was being balanced out by a slight decrease in rental yields across the nation. However, these increases are expected to continue into the future, due to the low interest rate landscape being spurred on by the recent Reserve Bank of Australia cash rate decision.
However, despite the drops, Darwin topped the gross rental yield market for both houses and units, recording a 5.9 per cent yield and a 5.8 per cent yield respectively. These figures could be encouraging for anyone considering investment property in the Northern Territory capital city in the near future.
Get in contact with a local real estate agent to begin discussing the property options available to you and make your move into the ripe market today.